Question: A study was made by a retail merchant to determine the relation between weekly advertising expenditure and sales. The following data were recorded: - [1+1+1+1]

A study was made by a retail merchant to determine the relation between weekly advertising expenditure and sales. The following data were recorded: - [1+1+1+1] Advertising Costs (x) Sales (y) 40 20 25 20 30 50 40 20 50 385 400 395 365 475 440 490 420 560 a. Find equation of regression line b. Interpret regression coefficient and y intercept c. Find coefficient of determination and interpret it d. Comment on your result of part (c)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

. Nancy Drew worked for Sam Spade as an assistant private detective. Sam generously taught her everything he knew about good detective work. He also allowed her to handle assignments for some of his...

Question 5 (a) A study was made by a retail merchant to determine the relation between weekly advertising expenditure (x, in S'000) and sales (y, in $'000). Twelve weeks are selected randomly and the...

ANSWER THESE QUESTION thanks The following data represent the length of life, in seconds, of 50 fruit flies subject to a new spray in a controlled laboratory experiment (a) Construct a...

help me!!!! 1With reference to Exercise 11.3 on page 398, {a} evaluate 52; {5) construct a 99% condence interval for u; {c} construct a 93% condence interval for 161. 11.3 The amounts of a chemical...

solve the question For a particular variety of plant, researchers wanted to develop a formula for predicting the quantity of seeds {in grants} as a function of the density of plants. They conducted a...

A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. The following data were recorded:(a) Plot a scatter diagram.(b) Find the equation of...

3. A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. The correlation is 0.635 (Enter your answers in three decimal places) Summary...

11.9 A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. Advertising Costs ($) Sales ($) 40 385 20 400 25 395 20 365 30 475 50 440 40...

Read, analyze and do what is asked. A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. Advertising Costs ($) 40 20 25 20 30 50 40 20 50...

A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales (a) Plot a scatter diagram. (b) Find the equation of the regression line to predict...

A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. 1. Plot a scatter diagram. 2. Find the equation of the regression line to predict...

How would the court classify the Chickasaw Club corporation-domestic or foreign, public or private? William Sharp was the sole shareholder and manager of Chickasaw Club, Inc., an S corporation that...

Let X equal the butterfat production (in pounds) of a Holstein cow during the 305-day milking period following the birth of a calf. Assume that the distribution of X is N(,1402). To test the null...

Which of the following situations would require adjustment to or disclosure in the financial statements? Multiple Choice a merger discussion the application for a patent on a new production process...

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...